How do I set up a living trust?

Setting up a living trust in Utah can be a straightforward process if you have the help of a qualified estate planning lawyer. First, you’ll need to determine what type of trust you’d like to create. A living trust is a legal document that allows you to keep your assets in trust, and dictate how they are distributed upon your death. Your assets could include financial investments, real estate, personal property, or any other type of property you may own. Next, you will need to choose a trustee. This is the person you trust to manage the property within the trust. The trustee should also be responsible for ensuring your wishes are followed should you die or become incapacitated. Once the trustee is chosen, you must decide how to transfer your assets into the trust. This typically involves filling out paperwork with the help of an attorney. This paperwork will legally transfer ownership of your assets from yourself to the trust, and the trustee of your trust. Finally, it is important to keep all trust documents, such as an updated inventory, in an accessible and secure location. This will ensure that your wishes for how your assets are dispersed are followed in the event of your death. By following these steps, you can be on your way to setting up a living trust in Utah. Of course, consulting with an experienced estate planning lawyer is always the best means of protection when it comes to ensuring that your assets are properly transferred and managed as you see fit.

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How do I set up a living trust?

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